New memecoin KangaMoon launches after completing its pre-sale, while Shiba Inu (SHIB) and Dogecoin (DOGE) remain flat – DiarioBitcoin

By Sponsor

KangaMoon promoters announce the launch of the native token KANG following the closure of the presale while reviewing the recent price trajectories of the two major memecoins SHIB and DOGE.

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Memecoins were the center of attention in the first half of this year, producing several of the biggest gainers in the cryptocurrency market. While the new meme coins shined, market leaders Shiba Inu (SHIB) and Dogecoin (DOGE) posted minimal gains.

With the cryptocurrency market gaining momentum, a new memecoin from SocialFi called KangaMoon is all set to make waves in the market. KangaMoon has just completed its pre-sale and is looking to attract investors from Shiba Inu and Dogecoin.

Shiba Inu (SHIB) Burn Rate Increases

Shiba Inu (SHIB) has continued the trend in the market after recording a spectacular increase in the burn rate. Since the last month, June, the Shibburn tracker has reported that over 918 million SHIB tokens have been burned. Investors holding the Shiba Inu coin They have been given a new lease of life following the increase in the rate of burning the value of the meme coin.

He price of shiba inu rose by over 60% in the first half of the year but has remained below the USD $0.00001800 support level for weeks. SHIB’s RSI has been resting at 34, with Santiment reporting that he Shiba Inu price is undervalued, suggesting the meme coin may push for a new higher price target in the second half of the year.

Potential rally to take Dogecoin (DOGE)

Dogecoin (DOGE) price action had been under bearish pressure for the past few days, which had already been a turnaround since the beginning of the year. However, the bulls are still in control of the token as the trend is somewhat positive until the end of the quarter.

Dogecoin bulls are struggling to stay above the key resistance turned support level at USD $0.1274. Therefore, if DOGE is to continue supporting this level, the Dogecoin price may remain bullish throughout the year 2024. The weekly chart shows that the Dogecoin price has the potential to rise to levels above $0.2 later on.

New Memecoin, KangaMoon, Wants to Lead the Market

While most of the meme coin market has been trading sideways, KangaMoon’s price rose noticeably on June 1 shortly after its listing, according to data from DEXToolsKangaMoon has also kept its promises to early investors who joined the pre-sale. From an original pre-sale price of $0.01, the meme coin is now trading at $0.0718.

KangaMoon has been the focus of interest for some investors since the pre-sale due to its promise of Social-Fi feature integration and a Play-to-Earn (P2E) ecosystem. The SocialFi element of KangaMoon incentivizes the user based on their participation and activity on the platform. The most active members of the community are rewarded with KANG tokens, which creates a sense of community and promotes brand awareness.

Highlighting the confidence in the project, KangaMoon raised over USD $8 million and received over 32,000 unique users as many share the excitement for the launch of their P2E game.

KANG is currently priced at USD $0.0718 and is already available on Uniswap and BitMart exchanges, while investors can follow its progress on CoinGecko and CoinMarketCap.

Conclusion

While Shiba Inu and Dogecoin are market leaders and will undoubtedly see gains in this second half, KangaMoon is another meme coin option that any investor can buy now. KangaMoon’s SocialFi promise could make it the next big thing in the meme coin space.

Discover exciting KangaMoon (KANG) pre-sale opportunities today!

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Disclaimer: This is a sponsored article produced by the KangaMoon team, hence Bitcoin Diary DOES NOT endorse or promote any commercial offers, products or services mentioned throughout the text.

Trading cryptocurrencies in the pre-sale phase can be a risky activity, even more so if it is not done through a launchpad or well-known platform. We recommend that those interested do more research on the project and its value proposition before investing their capital, since all investments carry significant risks.

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Text by KangaMoon

Image by Unsplash

WARNING: This is an informative article. DiarioBitcoin is a media outlet, it does not promote, endorse or recommend any particular investment. It is worth noting that investments in cryptoassets are not regulated in some countries. They may not be appropriate for retail investors, as the total amount invested could be lost. Check the laws of your country before investing.